From the following Trial Balance prepare Trading and Profit & Loss A/c for the year ending XXXXXXXXXXand a Balance Sheet as on that date. AND answer the following questions.DebitDrawingsStock...

From the following Trial Balance prepare Trading and Profit & Loss A/c for the year ending 31.12.2018 and a Balance Sheet as on that date. AND answer the following questions.

Debit

Drawings

Stock (1-1-18)

Purchase

Amount

10,200

18.900

138600

Printing & Stationery

2,600

Credit

Capital

Sales

Creditors

Returns

Provident fund

Interest on deposit with

XYZ

Outstanding trade expenses

Provision for bad debt

Debtors

Freehold Premises

Deposit with XYZ @10% (from 30-6-18)

Salaries (including advance INR.

3,500)

Returns

Furniture

Trade expenses

Income Tax

Bank Balance

Cash in Hand

Patent Right

22,800

39,000

18.000

|28,200

890

8,600

12.650

7,900

6,950

16,310

5,400

3,27,000

Bad debt recovered

Suspense A/C

Amount

95,000

202000

16.020

11.580

6.550

450

1,600

2,200

1700

1900

3,27,000

Other information:

1. Last year closing stock was valued at 10% below cost. It is needed to revert to cost.

Stock as on

31.12.18 was valued at INR. 16.400 (at cost).

2. Goods costing 650 pilfered by a employee and furniture (book value on 1.1.18 700)

destroyed by

an accidental fire on 31.12.18.